Its called a re-rating and that is all that has happened. This stock was priced for perfection seeing as it has delivered 20+% earnings growth every year for as long as I remember. It traded on a P/E of 20x and rightly so, but now with EPS of 40c it is on a P/E of 14. This is a fair P/E for this stock after the announcement and after management has disappointed the market like this. I wouldnt expect this one to bounce. There are a lot of small cap fund managers out there who will be itching to cut their losses. I think it represents fair value. Nice to see the MD sold over 100,000 shares at the end of September, thanks for the heads up...
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Its called a re-rating and that is all that has happened. This...
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$15.64 |
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No. | Vol. | Price($) |
---|---|---|
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6 | 325 | 15.610 |
4 | 325 | 15.600 |
6 | 663 | 15.590 |
4 | 346 | 15.580 |
Price($) | Vol. | No. |
---|---|---|
15.650 | 1252 | 11 |
15.660 | 362 | 4 |
15.670 | 359 | 4 |
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15.690 | 929 | 4 |
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